I am not a financial genius. I have made plenty of financial mistakes. I am now trying desperately to fix those mistakes and change my money mindset. Part of this plan includes filing for Chapter 7 Bankruptcy. When you file for a BK these days you have to take some credit counseling courses and I took mine online. I took each of the two courses very seriously and spent hours online completing them. I learned some very important things about myself along the way...(who knew?)
The first thing I figured out is that money scares the crap out of me! Having it makes me feel nervous, as if I already anticipate mismanaging it. Although I know money is necessary, I'm much more comfy having "just enough" to pay the bills than a bank account full of the stuff. I need to rethink my relationship with money and how I spend it. I control my money, my money does not control me.
The second thing I learned is that just about everyone lies about their money situation. We have expensive cars, clothes, hair, nails, toes, perfume, homes, toys, etc...and most of us are in debt up to our ears for it. I learned that I cannot compare myself to others. Keeping up with Jones' means keeping up with their debt, too! Did you know that most financial experts consider buying a new car a financial disaster and most advise to buy a car a year old or more? I did not know that! And I'm not ashamed to admit it, either. (BTW, we have two new cars sitting in the driveway...ooops!)
The last thing I learned was how important it is to always set financial goals for yourself. Setting goals helps set limits and when they are reached, we have more faith in ourselves that we can accomplish more. And that's what most people want with their money, right? More? Maybe not me...not yet. The bf and I have 3 short-term goals set for ourselves right now. The first is right around the corner from being achieved. That feeling is so liberating and makes me want to start setting goals all over the place! How much can I cut from the budget every month? How much can I save? How long can I actually go in between pedicures?!
It's all starting to make some sense now, this money management thing. I'm not going to say I'm grateful for filing for bankruptcy (although it has lifted an enormous burden) but, I'm thankful I took the classes seriously. I now have somewhat of an obsession with my money and banking and have started using a free online tool to help manage our finances. We can see just how much we spend on our cars, shopping, groceries and the like. And just how much we throw out the window...yikes! We can set budget goals and be alerted when we are close to going over. We can set goals for saving. It's a great constant reminder to stay focused on the present as well as the future. If I can only just bring myself to login everyday...just kidding.
I'm already adding new goals to the list...
